mm activity retailing final

8/3/2019 MM ACTIVITY Retailing Final

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Aksshat Seth (08)

Amit Kumar (10)

Ankush Redhu (16)

Devanshu (36)

Dion Dsa (37)

Harish V. (46)

Haritha G. (47)

Retailing in India- Opportunities

and Challenges


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Table of Contents

Executive Summary 3

Introduction to the topic 4

Traditional Scenario In India 4

Indian Retail Is Moving Into Second Gear 5

Failure Analysis 8

Recent Trends 9

Foreign Direct Investments Role 11

Challenges Facing The Indian Organized Retail Sector 13

Our Suggestions & Other Research Findings 16

Conclusion 18


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EXECUTIVE SUMMARY

CHALLENGES:

To become a truly flourishing industry, retailing needs to cross the following hurdles:

Automatic approval is not allowed for foreign investment in retail. Regulations restricting real estate purchases, and cumbersome local laws. Taxation, which favors small retail businesses. Lack of trained work force. Low skill level for retailing management. Intrinsic complexity of retailing rapid price changes, constant threat of product

obsolescence and low margins.

OPPORTUNITIES & OBSERVATIONS:

A large young working population with median age of 24 years, Nuclear families in urban areas, Along with increasing working women population and Emerging opportunities in the services sector The growth pattern in organized retailing and in the consumption made by the Indian

population will follow a rising graph helping the newer businessmen to enter the India

Retail Industry. Indian retail is expected to grow 25 per cent annually.

In India the vast middle class and its almost untapped retail industry Global retail giants wanting to enter into newer markets, which in turn will help the India

Retail Industry to grow faster.. Modern retail in India could be worth US$ 175-200

billion by 2016.

The Food Retail Industry in India dominates the shopping basket. The Mobile phone Retail Industry in India is already a US$ 16.7 billion business,

growing at over 20 per cent per year.

The government policies becoming more favorable and the emerging technologiesfacilitating operations.

Presently, Indian retail is aiming at meeting customer expectations. The future is in better back-

end management phase and then consolidation phase. Future of Indian retail is bright provided

certain measures are taken well in time.


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INTRODUCTION

Retailing is the most active and attractive sector of last decade. While the retailing industry itself

has been present since ages in our country, it is only the recent past that it has witnessed so much

dynamism. The emergence of retailing in India has more to do with the increased purchasing

power of buyers, especially post-liberalization, increase in product variety, and increase in

economies of scale, with the aid of modern supply and distributions solution.

Indian retailing today is at an interesting crossroads. The retail sales are at the highest point in

history and new technologies are improving retail productivity. though there are many

opportunities to start a new retail business, retailers are facing numerous challenges.

To overcome some of the challenges faced by modern retail, the country is developing a support

infrastructure in form of specialized retail schools. One such skill development initiative has

been taken by TKWs Group. Its TKWs Retail School has already training over a thousand

students and retail professionals for different retail skills.

TRADITIONAL RETAIL SCENE IN INDIA

India is the country having the most unorganized retail market. Traditionally the retail business is run by

Mom & Pop having Shop in the front & house at the back. More than 99% retailers function in less than

500Sq.Ft of area. All the merchandise was purchased as per the test & vim and fancies of the proprietor also


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the pricing was done on ad hock basis or by seeing at the face of customer. Generally the accounts of trading

& home are not maintained separately. Profits were accumulated in slow moving & non-moving stocks which

were to become redundant or consumed in-house. Thus profits were vanished without their knowledge. The

Manufactures were to distribute goods through C & F agents to Distributors & Wholesalers. Retailers happen

to source the merchandise from Wholesalers & reach to end-users. The merchandise price used to get inflated

to a great extent till it reaches from Manufacturer to End-user. Selling prices were largely not controlled by

Manufacturers. Branding was not an issue for majority of customers. Bargaining was the unwritten law of

market. Educational qualification level of these retailers was always low. Hence market was controlled by

handful of distributors &/or Wholesalers.

INDIAN RETAIL IS MOVING INTO SECOND GEAR

1) FIRST GEAR:(Create awareness)

* New retailers driving awareness

* High degree of fragmentation

* Real estate groups starting retail chains

* Consumer expecting 'value for money' as core value

2) SECOND GEAR:

(Meet customer expectations)* Consumer-driven

* Emergence of pure retailers

* Retailers getting multi-locational and multi-format

* Global retailers evincing interest in India

3) THIRD GEAR:

(Back end management)

* Category management

* Vendor partnership

* Stock turns

* Channel synchronization

* Consumer acquisition


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* Customer relation's management

4) FOURTH GEAR:

(Consolidation)

* Aggressive rollout

* Organized retail acquitting significant share

* Beginning of cross-border movement

* Mergers and acquisitions

The third and fourth gear provides us with a potential vision to work for. This is the future.

We would now study the current scenario and past trends with the help of studying some of the Indias

retail giants. Pantaloon Retail (India) Limited, is Indias leading retailer that operates multiple retail

formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai

(Bombay), the company operates over 16 million square feet of retail space, has over 1000 stores across

73 cities in India and employs over 30,000 people.

The companys leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely

Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indian

bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of

seamless destination malls. Some of its other formats include Brand Factory, Blue Sky, aLL, Top 10 and

Star and Sitara. The company also operates an online portal, futurebazaar.com.

Future Value Retail Limited is a wholly owned subsidiary of Pantaloon Retail (India) Limited. This entity

has been created keeping in mind the growth and the current size of the companys value retail business,

led by its format divisions, Big Bazaar and Food Bazaar.

The company operates 148 Big Bazaar stores, 169 Food Bazaar stores, among other formats, in over 70

cities across the country, covering an operational retail space of over 6 million square feet. As a focussed

entity driving the growth of the group's value retail business, Future Value Retail Limited will continue to

deliver more value to its customers, supply partners, stakeholders and communities across the country and

shape the growth of modern retail in India.


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Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire Indian

consumption space.

Future Group

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of Indias leading business

houses with multiple businesses spanning across the consumption space. While retail forms the core

business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance,

leisure and entertainment, brand development, retail real estate development, retail media and logistics.

The company follows a multi-format retail strategy that captures almost the entire consumption basket of

Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and

Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket

format that combines the look, touch and feel of Indian bazaars with the choice and convenience of

modern retail.

The groups specialty retail formats include supermarket chain - Food Bazaar, sportswear retailer - Planet

Sports, electronics retailer - eZone, home improvement chain -Home Town and rural retail chain -

Aadhaar, among others. It also operates popular shopping portal - www.futurebazaar.com.

Future Group believes in developing strong insights on Indian consumers and building businesses based

on Indian ideas, as espoused in the groups core value of Indianness.The groups corporate credo is,

Rewrite rules, Retain values.Logistics and supply chain management:

Logistics forms a critical business activity across Future Groups businesses. Future Supply Chain

Solutions Limited (FSCS), a specialized subsidiary, offers strategic, focused and consolidated approach to

meet the groups large supply chain requirements as well as those of select supply and business partners.


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The Future Supply Chain Solutions team currently oversees the operations of an existing fleet of over 600

dedicated trucks, contracted from established regional and national transport carriers, most of which are

now equipped with GPS sets. In addition it provides integrated end-to-end SCM, warehousing and

distribution, multi-modal transportation and container freight station. The total consolidated warehouse

space that the company intends to have operational by 2010-11 is nearly 7.50 million square feet.

Mall management:

Mall management has been identified as a critical factor for the success of shopping malls/centre and the

retail industry across the world. Mall management broadly includes mall positioning, zoning, tenant mix,

promotions/marketing and facility/finance management. Currently, the Indian retail market lacks

designated mall management firms.

Agre Developers Limited is a Future Group company that will provide a comprehensive mall/property

management and services in India including positioning, finance management and mall advisory services.

Agre Developers currently operates six shopping malls: Orchid City Centre and Milan Mall in Mumbai;

Cosmos and Lido Malls in Bangalore; Ahmadabad City Centre in Ahmadabad and Cosmos Mall in

Siliguri.

FUTURE BAZAAR ONLINE PRESENCE:


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On visiting Future Bazaar website one can see the different verticals it is dealing with under one roof.

This exemplifies the breadth and depth of the growth of retailing in India. The following are the details

about it.

1.) Electronic deals: - Samsung ,LG, Sensei, Sony , Koryo , Philips ,Play station CD, Microsoft ,Hitachi,Onida. These are some of the main brands offered by Future Bazaar. Shopping has been made

microscopic to ease out purchase. That means that they also provide the choice of selecting the range

or budget that the consumer is willing to pay. Even the category can be chosen i.e. home appliances,

gaming accessories, TVs, Kitchen appliances, Laptops.

2.) Home Deals:- categories include - Kitchenware , Toys and Games, Home Linen ,Bags & Luggage,Home Utilities, More Home Deals ,Auto Accessories. Brands include- Dreamline, Mattel, Milestone,

Prestige, Nirali, Frank, Wild Republic Funskool ,Cello and Aza.

All the above mentioned points reveal the robust growth and diversification of retail in India. Moreover,

the online presence is becoming common phenomenon of retailing nowadays in India. Future Bazaar is

just an example.

RECENT TRENDS

Indian retail market is estimated to be at ~$350 billion and organized retail accounts for 6% of the total

market. So all the Biyanis, Ambanis and the Birlas are sharing the 6% pie so far. With such a huge

opportunity why would anybody not enter the retail market? Both domestic and foreign retail players are

interested in investing in Indian retail story. The results have been mixed so far but there are trends if

looked more closely.

Foreign Direct Investment is permitted only in cash-and-carry business of the retail space. No foreign

investment is allowed in multi-brand retail stores. 51% investment is allowed in single brand retail stores.

International Multi-brand retailers are allowed but only via the franchise route where the face should be of

an Indian business house.

Not so good news


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Subhiksha, which runs the retail stores across India, is battling for survival. It has negotiated its rentals in

many cities but now it is planning to close more than half of its stores. UK retailer Argos is pulling out of

India.

Reliance Retail has pulled out of cash and carry business because of the bleak outlook and they dont

want to burn any more cash. Its Reliance Fresh is not doing that well. Same is the case with Spencers and

Aditya Birla groupsMore.

Good news

Future GroupsBig Bazaar has bucked the trend though it is resorting to new ways to boost sales. It is

trying to rent expensive clothes for special occasions. It is also in talks withCarrefourfor a cash-and-

carry set-up.

Mahindra and Mahindra group unlike their Xylo launch has quietly entered the retail space with Mom

& Me store. Bharti has collaborated with Wal-Mart for a cash and carry business and has named its stores

as BestPrice Modern Wholesale.

Since organized retail is pretty new in India, nobody knows what really works. But there are few trends if

we look closely.

1. Big Bazaar is a hit. Which means their store format, which is a rip-off of Saravana Stores inChennai, is something worth paying attention to.

2. Small stores like the Subiksha format or the Reliance Fresh format did not work. The profitability isnot there for that small a space.

3. Good customer care. When I walk into a kirana store across the street, that guy makes an eyecontact and asks what I want. That makes me feel good. I am not saying that the supermarkets should

do to all the customers that walk their stores. If asked a good customer care is always a good way to

increase reputation.

4. Parking space or the lack of it. If you have such a big store and I am fighting for the parking space Iwould rather not come to your store and will find an alternative. I would go to a small store who

delivers to my home. I dont have to worry about parking and carrying the bags back to the car

Indias retail sectorhas for quite a few years been one of the sunshine sectors of our industry. But

problems ranging from poor supply chain, high infrastructure costs, lack of positioning and loyalty have

proved as obstacles in their growth path.
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Now, many of them are turning their glances to the rural areas for expansions.

Shoppers Stop is planning to open over 12 stores in smaller cities by the year end at an investment ofabout 120 crore

Future Group is planning to enter 1012 towns every year Metro Cash and Carry and Easy Day are looking to expand their cash and curry business first to

smaller towns

Wills Lifestyle and Spice Hotspot are targeting these smaller cities and towns as a very important partof their strategy

Wondering how come this change? I analyzed a number of factors / reasons responsible for this.

One of the most important factors is the changing demographic dividend - Increasing disposable

incomes, better standards of living and reduction of gender and race divides is proving to be increasingly

beneficial.

This has also helped the rural populace to better realize their agricultural produce and get the right price

for it. E.g.: Reliance Fresh is sourcing the vegetables directly from the farmers for its stores thereby

removing the need of middlemen. Low land availability and rising prices has also made many retailers

look to smaller towns for their operations. Increasing customization and decreasing the stock of luxury

products is the strategy which retailers are using for rural areas.

In Rakesh Biyani, CEO, Retail, Future Groups words

Sales per sq ft may be lower than the cities, but then the costs are lower too
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FOREIGN DIRECT INVESTMENTS ROLE

In the past decades, FDI was concerned only with highly industrialized countries. US was the

worlds largest recipient of FDI during 2006 with an investment of 184 million from OECD

(Organization for Economic Co-operation and Development) countries. France, Greece, Iceland,

Poland, Slovak Republic, Switzerland and Turkey also have a positive record in FDI

investments. Now, during the course of time, FDI has become a vital part in every country more

particularly with the developing countries. This is because of the following reasons:

Availability of cheap labor. Uninterrupted availability of raw material. Less production cost compared with other developed countries. Quick and easy market penetration.

FDI in the Retail sector:

Retailing is one of the worlds largest private industry. Liberalizations in FDI have caused a

massive restructuring in retail industry. The benefit of FDI in retail industry superimposes its

cost factors. Opening the retail industry to FDI will bring forth benefits in terms of advance

employment, organized retail stores, availability of quality products at a better and cheaper price.

It enables a countrys product or service to enter into the global market. Some benefits:

1.) Cheaper production facilities:FDI will ensure better operations in production cycle and distribution. Due to economies ofoperation, production facilities will be available at a cheaper rate thereby resulting in availability

of variety products to the ultimate consumers at a reasonable and lesser price.

2.) Availability of new technology:FDI enables transfer of skills and technology from overseas and develops the infrastructure of

the domestic country. Greater managerial talent inflow from other countries is made possible.

Domestic consumers will benefit getting great variety and quality products at all price points.

3.) Long term cash liquidity:FDI will provide necessary capital for setting up organized retail chain stores. It is a long term

investment because unlike equity capital, the physical capital invested in the domestic company

is not easily liquidated.


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4.) Lead driver for the countrys economic growth:FDI would create a competition among the global investors, which would ultimately ensure

better and lower prices thus benefiting people in all sections of the society. There would be an

increase in the market growth and expansion. It will increase retail employment and suppress

untrained manpower and lack of experience. It will ensure better managerial techniques and

success. Higher wages will be paid by the international companies. Urban consumers will be

exposed to international lifestyles.

5.) FDI opens new doors for Franchising:Restrictions on FDI are considered as trade barriers as they deny direct market access to foreign

firms. Retail giants who are at their wings, seeking entry into foreign market look for other

available alternatives. These restrictions on the global retailers regarding the inflow of Foreign

Direct Investment, leads them towards acquiring the market entry through franchises. Thus,

countries which offer promising market potentialities for retail growth offers substantial growth

in the franchising sector as well.

6.) Improved human capital:Indian industries are predominantly labor based but there is also a significant number of capital

based companies. A capital intensive set up is indeed an expensive proposition but with the

existing as well as potential labor intensive industries, India can look forward to more

professional and sophisticated number of workers and employees at every level. Human capital,

in terms of quantity was never a big problem in India, thanks to its huge population and quality

and efficiency in work has been ushered in by the MNCs.

7.) Competition Effect:

The benefits of larger FDIs will include the launching and marketing of new products and brands

in the Indian market. New products are used by the multinational corporations and then

demonstrated in the Indian market. The processes followed by MNCs in India serve to have

a demonstration effect on Indian companies which in turn improves market competition and the

standard of products. This had started in the 1980s due to Japanese firms and as a result, Indian

firms started inculcating the practices of QC, JIT, and QA.

8.) Manufacturing Employment:


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Larger FDIs definitely generate more and more employment opportunities. The opportunities

are highly experienced in the manufacturing area. This not only includes the quality human

resource but also provides for quick and efficient work and effective outcomes.

CHALLENGES FACING THE INDIAN ORGANIZED RETAIL SECTOR

The challenges facing the Indian organized retail sector are various and these are stopping

the Indian retail industry from reaching its full potential. The behavior patterns of the Indian

consumer have undergone a major change. This has happened for the Indian consumer is earning

more now, western influences, women working force is increasing, desire for luxury items and

better quality. He now wants to eat, shop, and get entertained under the same roof. All these have

lead the Indian organized retail sector to give more in order to satisfy the Indian customer.

1.) Retail Space: With real estate prices escalating due to increase in demand from the Indian

organized retail sector, it is posing a challenge to its growth. With Indian retailers having to shell

out more for retail space it is affecting their overall profitability in retail.

2.) Trained manpower shortage: is a challenge facing the organized retail sector in India. The

Indian retailers have difficulty in finding trained person and also have to pay more in order to

retain them. This again brings down the Indian retailers profit levels.

3.) FDI: The Indian government has allowed 51% foreign direct investment (FDI) in the India

retail sector to one brand shops only. This has made the entry of global retail giants to organized

retail sector in India difficult. This is a challenge being faced by the Indian organized retail

sector. But the global retail giants like Tesco, Wal-Mart, and Metro AG are entering the

organized retail sector in India indirectly through franchisee agreement and cash and carry

wholesale trading. Many Indian companies are also entering the Indian organized retail

sector like Reliance Industries Limited, Pantaloons, and Bharti Telecoms. But they are facing

stiff competition from these global retail giants. As a result discounting is becoming an accepted

practice. This too brings down the profit of the Indian retailers.

4.) Merchandise: The primary goal of the most retailers is to sell the right kind of merchandiseand nothing is more central to the strategic thrust of the retailing firm. Merchandising consists of

activities involved in acquiring particular goods and services and making them available at a

place, time and quantity that enable the retailer to reach its goals.


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5) Pricing: Pricing is a crucial strategic variable due to its direct relationship with a firm's goal

and its interaction with other retailing elements. The importance of pricing decisions is growing

because today's customers are looking for good value when they buy merchandise and services.

Price is the easiest and quickest variable to change.

6) Scale of operations:

Scale of operations includes all the supply chain activities, which are carried out in the business. It is one

of the challenges that the Indian retailers are facing. The cost of business operations is very high in India.

The challenges facing the Indian organized retail sector are there but it will have to be dealt with

and only then this sector can prosper.

FIRST PRIORITY:NEED FOR LARGER FDI

The need for larger FDI is because India is at a stage where it needs US investments, technology,

and management policies to sustain and enhance its economic growth. In 2006, Foreign Direct

Investment (FDI) in India amounted to US$37 billion, out of which only $5 billion was from

the US. This was not a very encouraging figure in view of the goal of increasing the GDP by 34-

36%. Therefore, there is a need for larger FDIs.

India still requires an FDI component equal to 4% of the GDP. The US needs to invest more in

various sectors of the Indian economy. There is a potential to attract more FDIs in areas like

infrastructure, IT hardware, automobiles, leather, textiles, gems, jewellery, and the financialsector. As such, India is rated as the 2nd best economy to invest in, after China. Foreign

companies need to persuade the parliament for increasing Foreign Direct Investment capital.

WHAT ARE THE BENEFITS OF LARGER FDI TO THE RETAIL INDUSTRY

The benefits of larger FDI can be tangibly felt in the domains pertaining to technological

advancements, generation of export, production improvements, and hastening of

manufacturing employment. Capital inflow into India has increased and so have the exports

from the country. Thanks to the economic boom India is experiencing, some Indian companies

are doing better than even the multinational corporations. The benefits of larger FDI are,however, very few in number but as India capitalizes on the above mentioned benefits, there will

be more competition in the market at large and the rural sector of the country will be in the

process of reformation, thus bringing about a socio-economic stability.


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SECOND PRIORITY: SUPPLY CHAIN MANAGEMENT IN THE INDIAN RETAIL

INDUSTRY

The role of supply chain in Indian organized retail is very significant for on it depends the

growth of this sector. The Indian Supply Chain Council have been formed to explore the

challenges that a retailer faces and to find possible solutions for India. The role of supply chain

in the organized retail sector in India should be a shelf- centric partnership between the retailer

and the manufacture for this will create supply chains that are loss free. This will also give rise to

top and bottom line growth. In the organized retail sector in India the presence of fresh produce

(vegetables and fruits) is very small. This is so for the nature of supply chain is very fragmented.

This shows the important role of supply chain in the organized retail sector in India.

In the organized retail market in India the role of supply chain is very important for the Indian

customer demands at affordable prices a variety of product mix. It is the supply chain that

ensures to the customer in all the various offerings that a company decides for its customers, be itcost, service, or the quickness in responding to ever changing tastes of the customer.

The infrastructure in India in terms of road, rail, and air links are not sufficient. And so

warehousing plays a major role as an aspect of supply chain operations. To overcome these

problems, the Indian retailer is trying to reduce transportation costs and is investing in logistics

through partnership or directly. The Indian organized retail sector is growing so the role of

supply chain becomes all the more important. It should become all the more responsive and

adaptive to customers demand. There is also need for the supply chain to be more cost efficient

and collaborative to win the immense competition in this sector. The role of supply chain in

Indian organized retail has expanded over the years with the boom in this industry. The growthof the Indian retail industry to a large extent depends on supply chain, so efforts must be made

by the Indian retailers to maintain it properly.

THIRD PRIORITY: THE REAL ESTATE SUPPORT

Provide cheaper space for the retail Provide tax holidays for rural retail business.

THE FOURTH PRIORITY

Therange / varieties of formats for the retail sector by providing tax benefits.


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OUR SUGGESTIONS & OTHER RESEARCH FINDINGS

The recent growth of credit cards and other credit facilities available for the retailcustomers has changed the pace and ease with which they now consumer goods and

services. Now even EMI schemes are available to the customers who can purchase goods

of their choice at will and pay with ease. This has increased competition among the

retailers as the retailer who fails to provide these frills is either forced to do so or has to

leave the industry. It might even eat into the retailers profits. An efficient supply chain

can be a good solution.

Indian retail is characterized by both- organized and unorganized players; unlike the westwhere organized retail comprises of 85% of the whole retail sector.

Indian society and as a result the retail sector is very diverse in nature. In such a situation,the retailer faces a huge challenge before entering the industry. The challenge is that

which kind of business model will work. He also needs to think as to how different his

business model is in comparison to his competitors keeping the diversity of the tastes and

preferences of his customers.

Presently the retailers, pay octroi tax and other such taxes. But thinking a few years aheadof time, when Goods and Services Tax will be implemented it will be very beneficial for

the retailers and it will also have a direct bearing on the prices of goods and services,

supply chain costs and profit margin.

Licensing: At present the Indian retailers have to take innumerable licenses beforestarting their business. We believe that this process becomes very cumbersome due to red

tapism, paperwork and corruption. The government of India should take concrete steps in

this regard and reduce this factor of possible discouragement for the new entrant retailers.

Only big players can afford to take risks and experiment. The retail sector of India is so huge and is growing at such a fast pace that Retail sector of


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Global retail giants such as Wal-Mart, Tesco, Germany's Metro AG and many others are entering

the retail markets. The rising demand of branded products and increase in purchasing power has

lured these companies to enter the market. There are a few challenges that the industry faces

which need to be dealt with in order to realize the complete scope of growth in Indian market.

Despite many challenge international brands are thriving in the Indian market by finding

solutions around these challenges. A company that plans to enter Indian market at this time can

definitely look forward to great business if it analyzes and puts efforts on all parameters.

India deserves to be given the industry status. This would open the floodgates of

development and funds that were denied to it for the past so many years.

There should be a regulatory body which would be responsible for setting up guidelines,rules and regulations for the retail sector. This can only happen after the retail sector is

given an industry status. It is high time!!

Political Risks: This is also another issue that affects the retail sector very much. In therecent times we have seen how state governments have been responsible for the decline

and doom of some retail giants. India is a very politically sensitive country and emotions

run high where the development of the Aam Admi is concerned.

CONCLUSION

Retail is clearly the sector that is poised to show the highest growth in the next five years. The

sector is set for a revolution, as both the present players and new entrants are gearing up to

explore the market.


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The retail sector has played a phenomenal role throughout the world in increasing productivity of

consumer goods and services. It is also the second largest industry in US in terms of numbers of

employees and establishments. There is no denying the fact that most of the developed

economies are very much relying on their retail sector as a locomotive of growth. The India

Retail Industry is the largest among all the industries, accounting for over 10 per cent of thecountrys GDP and around 8 per cent of the employment. The Retail Industry in India has come

forth as one of the most dynamic and fast paced industries with several players entering the

market. But all of them have not yet tasted success because of the heavy initial investments that

are required to break even with other companies and compete with them. The India Retail

Industry is gradually inching its way towards becoming the next boom industry.

mm activity retailing final

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